Leadership teams for two corporate venture capital-backed spin-out companies from BT
New Venture Partners (NVP) is a trans-Atlantic venture capital firm focussed on funding ‘spin-outs’ from large technology corporations, including BT in the UK.
Under the direction of NVP Managing Partners Harry Berry in the UK and Frank Rimalovski in the US, Spectrum built the leadership teams for two organisations spun out from BT’s Adastral Park research facility at Martlesham Heath, and successfully incorporated as standalone businesses:
Real Time Content
Real Time Content (RTC) provides data-driven, adaptive, personalised video services for lead generation, sales, service, training, recruiting, and entertainment applications.
RTC’s ‘virtual presenter’ technology was invented in British Telecom’s Research Labs and then spun out as an independent venture-backed start-up in 2007.The business was acquired by Randall-Reilly Publishing Company in the USA, in September 2010.
Spectrum’s contribution was to recruit the CEO and CTO to take RTC into ‘incubation’, to validate the technical and commercial potential of the business, and then to fully incorporate it as a standalone organisation with financing provided by NVP and BT. This was achieved, and NVP and BT subsequently exited the business via a relatively rapid trade sale.
iome is the company behind Plotstar and BT MyPlace: location-based services delivered to the consumer via mobile internet.
The company’s technology was developed in BT’s Research Labs and incorporated as a standalone company in 2005.
Spectrum’s role, post incorporation, was to recruit the leadership team, comprising:
• Chief Executive Officer
• Chief Financial Officer
• Vice President, Marketing
• Vice President, Sales
NVP and BT subsequently exited the business via a management buyout.
Spectrum found us a CEO and CTO. We were delighted with both the speed and quality of the search process, which will enable the business to gain momentum rapidly, in what is a rapidly evolving segment of the market.
Harry Berry, Managing Partner NVP & Chairman, RTC
Both Peter and Matt will be great assets to the team. They have already established excellent reputations in the industry and bring a wealth of experience to the business.
Martin Knestrick, CEO, iome